St. Joe CEO, 3 Directors to Resign

Britt Greene, president and chief executive of St. Joe Co., said he will resign, along with three other directors, later this week, ending a pitched, months-long control battle between the Florida real-estate developer’s largest shareholder and its current board.

Bruce R. Berkowitz and Charles M. Fernandez, both directors at Fairholme Capital Management, which owns nearly 30% of St. Joe, have been trying for months to oust the St. Joe board and replace it with a new slate. The announcement Monday means they have won the battle.